Private sector refers to the sector of business that is owned, managed and controlled by private
individuals or groups. On the basis of this statement, elaborate the features of private sector Enterprises.
Private sector enterprises are in the form of private ownership. In this sector, the enterprise are called private because they are fully-owned by private individuals and there is no interference from any State or Central Government from the point of view of ownership.
Some of the examples of private enterprises are Reliance Capital, TATA AIG, Life Insurance, Ultratech Cement, etc.
Features of private sector are
(i) The aim of such enterprises is to earn money or maximise profit.
(ii) Private people have complete ownership of the enterprises of this sector.
(iii) The success of such-enterprises can be measured through the degree of profit.